Whitefish Credit Union Gives Back to Members
News from Whitefish Credit Union
WHITEFISH, Mont., June 30, 2017 – Whitefish Credit Union has announced a 0.94% dividend for the six months ended June 30, 2017. This dividend represents a 38% increase over the 0.68% declared at December 31, 2016.
“We are constantly striving to provide our members with the best products and services available, and our new dividend rate is a reflection of that commitment,” said Whitefish Credit Union president Jim Kenyon. “As a member-owned credit union, our dividend is a way for us to share our continued success directly with our members. We mean it when we say that we are the best place to save and the best place to borrow.”
Not only is the new dividend amongst the highest available nationally for a savings account, but it also outperforms nearly all money market, CD, or investment accounts, most of which require a high minimum balance to be eligible for a comparable rate. In addition, Whitefish Credit Union dividends do not, and have never, required a minimum balance, nor do they have a penalty for early withdrawal.
Member dividends are one of the differentiators between a credit union and a for-profit bank. Term withdrawal restricting are the means by which profits are distributed back to members in the form of higher dividends and lower loan rates. When you open a savings account with Whitefish Credit Union, your deposits represent shares of the organization, making you a part owner. Whitefish Credit Union’s dividend is based on the average daily balance in an active member’s account and is paid semi-annually.
About Whitefish Credit Union:
Whitefish Credit Union is a respected leader in the financial services industry. State chartered in 1934, it has gone on to become the largest credit union in Montana with nearly $1.4 billion in assets. Today, Whitefish Credit Union manages seven branches throughout the state, which serve the financial cooperative’s more than 58,000 members.